MiCA Licence FAQ: EU Crypto Rules in 2026

Short answers on MiCA authorisation, passporting, the end of transitional periods and stablecoins.

Do crypto exchanges need a MiCA licence to serve EU customers?

Yes. Since the last transitional periods ended on 1 July 2026, providing crypto-asset services to EU clients needs a MiCA authorisation (or an Article 60 notification for already-regulated financial firms). ESMA: “any entity providing crypto-asset services to EU clients without a MiCA licence will be in breach of EU law” (ESMA).

How many crypto firms are authorised under MiCA?

On 21 Oct 2026, ESMA's interim register listed 372 firms: 75 with an Article 63 authorisation, 120 Article 60 notifications, and 177 where the file does not state the basis (CASPS.csv).

Is a MiCA licence from one country valid in the whole EU?

Yes, once the provider has notified the states where it wants to operate (passporting, Article 65). 173 passport to 27 or more EEA states on 21 Oct 2026.

Is Binance authorised under MiCA?

No Binance company is in ESMA's register. On 24 June 2026 Binance said it had withdrawn its application in Greece and would apply in another member state (Binance).

What happens to customers of unauthorised providers?

ESMA expects such providers to stop onboarding, stop marketing and only help clients sell, transfer or close positions, with custody only for the period strictly necessary (ESMA, 23 June 2026).

Which stablecoins are allowed under MiCA?

E-money tokens issued by credit or e-money institutions that notified a white paper. ESMA's register lists 50 EMT entries from 25 issuers and no asset-referenced token issuers (EMTWP.csv).

Where can I check a provider?

In ESMA's interim MiCA register (ESMA) and in the national register of the provider's home state. Our firm table lets you search by name, legal entity or LEI.

Why are so many German banks in the register?

Already-regulated financial firms can offer crypto services after a notification under Article 60. 98 German firms are in the register this way.